explorer
Legendary
Offline
Activity: 2016
Merit: 1259
|
 |
February 12, 2018, 11:59:03 PM Merited by jojo69 (1), Nosk (1) |
|
Earlier, the head of the Bank for International Settlements (BIS) Agustin Carstens said bitcoin is “a combination of a bubble, a Ponzi scheme and an environmental disaster,” calling central banks to crack down on cryptocurrencies. Agustin_Carstens  Lol, calling something an environmental disaster when he is that size. There's the Real Bubble TM Pop that fucker!
|
|
|
|
bitserve
Legendary
Offline
Activity: 1960
Merit: 1630
Self made HODLER ✓
|
 |
February 13, 2018, 12:07:32 AM |
|
I think this time it's gonna break it.
|
|
|
|
|
mymenace
Legendary
Offline
Activity: 1596
Merit: 1061
Smile
|
 |
February 13, 2018, 12:21:47 AM Last edit: February 13, 2018, 12:41:37 AM by mymenace |
|
Agustin_Carstens  made me laugh "pigs get slaughtered", reminds me of the kodak story and their hidden digital tech never to be released a complete change, replaced the old with the new
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1442
Merit: 2284
Degenerate bull hatter & Bitcoin monotheist
|
 |
February 13, 2018, 12:40:41 AM |
|
The chart I posted shows almost 4x more people are borrowing to bet that BTC will go up compared to people borrowing to bet that the price will go down.
I use this as a measure of sentiment and view it as bullish. But it can also go badly wrong. If the bears can fight against the tide and force the price downwards, they could start a cascade which would force the bulls out of their positions at a loss and trigger a massive price spike downwards.
Elwar brings up a good point, in that the exchange where this data is drawn from (BfX) is forcing corporate accounts to close. Corporate accounts tend to be short bitcoin. So this could just mean the underlying mix of players is changing with no change in sentiment. Hard to evaluate without further information.
|
|
|
|
Torque
Legendary
Offline
Activity: 3822
Merit: 5504
|
 |
February 13, 2018, 12:51:44 AM |
|
Elwar brings up a good point, in that the exchange where this data is drawn from (BfX) is forcing corporate accounts to close.
Wha? They can do that?
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1442
Merit: 2284
Degenerate bull hatter & Bitcoin monotheist
|
 |
February 13, 2018, 12:55:32 AM |
|
It’s their exchange. They can do whatever they like.
That said I did a quick google and am seeing conflicting reports about corporate accounts on BFX. Maybe Elwar can clarify.
|
|
|
|
mymenace
Legendary
Offline
Activity: 1596
Merit: 1061
Smile
|
 |
February 13, 2018, 12:57:43 AM |
|
made me laugh "pigs get slaughtered", reminds me of the kodak story and their hidden digital tech never to be released a complete change, replaced the old with the new Could anyone clarify if debt would be wiped if your bank is bankrupt? only rationale I have for booming stock market, low liquidity, record tax cuts, trillion dollar debt and trillion dollar budget spend it all now before you bankrupt
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
 |
February 13, 2018, 01:06:59 AM Last edit: February 13, 2018, 01:17:34 AM by marcus_of_augustus |
|
Could anyone clarify if debt would be wiped if your bank is bankrupt
debts like that never really die, they get zombified into 'non-performing loans' and sold on for cents on the dollar to the liquidating entity of the bust enterprise. Really big enterprises it gets rolled into govt. debt and shuffled around onto central bank balance sheets where it withers and shrivels up over decades as inflation erodes the principal value away as they "print money" to cover the problems. Some South Sea debt from early 1700's is still on the books of the government of UK (or is it the BoE?) ... also WW1 debts and depression era, WWII bonds, etc is still floating around getting traded at cents on the dollar or pennies on the pound as the case maybe. tl;dr ... if your bank goes bust you'll probably still owe 'someone' something depending who buys the bank's loan book, what currency the loan is denominated in, and if it is worth their while chasing you down for repayment(s)
|
|
|
|
European Central Bank
Legendary
Offline
Activity: 1288
Merit: 1087
|
 |
February 13, 2018, 01:09:01 AM |
|
It’s their exchange. They can do whatever they like.
That said I did a quick google and am seeing conflicting reports about corporate accounts on BFX. Maybe Elwar can clarify.
american accounts only as far as i can tell.
|
|
|
|
d_eddie
Legendary
Offline
Activity: 2912
Merit: 4484
|
 |
February 13, 2018, 01:13:01 AM |
|
I might be mistaken about bisq position in the BCH affair. Here's what I wrote. Bisq does p2p matching much like localbitcoins. They use their app to match people and one or two guys act as arbitrators in case of dispute. The idea is that there will be many arbitrators but when you look closer, it's basically the two guys that created the software. That's how they make money on it. Certainly a step in the right direction. Bisq jumped on the BCH bandwagon during the fork trouble. Let's not forget that. I was sure I read something - on their front page, on their mailing list or somewhere else - to the effect that they were supporting BCH. It might have been a list of NY Agreement signatories? However, I received a PM by one of our active members who did some research and couldn't find anything about that. So I'm doubtful now. Any additional info could be useful to set this straight.
|
|
|
|
Nosk
Member

Offline
Activity: 140
Merit: 35
|
 |
February 13, 2018, 01:21:34 AM |
|
There's the Real BubbleTM Pop that fucker!
Hahaahaha I lost my shit
|
|
|
|
Trilogy-AI
Newbie
Offline
Activity: 57
Merit: 0
|
 |
February 13, 2018, 01:21:55 AM |
|
The chart I posted shows almost 4x more people are borrowing to bet that BTC will go up compared to people borrowing to bet that the price will go down.
I use this as a measure of sentiment and view it as bullish. But it can also go badly wrong. If the bears can fight against the tide and force the price downwards, they could start a cascade which would force the bulls out of their positions at a loss and trigger a massive price spike downwards.
Elwar brings up a good point, in that the exchange where this data is drawn from (BfX) is forcing corporate accounts to close. Corporate accounts tend to be short bitcoin. So this could just mean the underlying mix of players is changing with no change in sentiment. Hard to evaluate without further information.
That may be true, but compare that to a typical stock. The number of short investors is actually never *greater* than 25%. So by that measure, 25% betting that the price of BTC will go down is actually extremely bearish.
|
|
|
|
mymenace
Legendary
Offline
Activity: 1596
Merit: 1061
Smile
|
 |
February 13, 2018, 01:23:02 AM |
|
Could anyone clarify if debt would be wiped if your bank is bankrupt
debts like that never really die, they get zombified into 'non-performing loans' and sold on for cents on the dollar to the liquidating entity of the bust enterprise. Really big enterprises it gets rolled into govt. debt and shuffled around onto central bank balance sheets where it withers and shrivels up over decades as inflation erodes the principal value away as they "print money" to cover the problems. Some South Sea debt from early 1700's is still on the books of the government of UK (or is it the BoE?) ... also WW1 debts and depression era, WWII bonds, etc is still floating around getting traded at cents on the dollar or pennies on the pound as the case maybe. tl;dr ... if your bank goes bust you'll probably still owe 'someone' something depending who buys the bank's loan book, what currency the loan is denominated in, and if it is worth their while chasing you down for repayment(s) that's understandable interesting though to see if it would really apply to government debt in the case of BIS going bankrupt nations agreeably removing nation debt and exchanging currency freely.
|
|
|
|
d_eddie
Legendary
Offline
Activity: 2912
Merit: 4484
|
 |
February 13, 2018, 01:27:03 AM |
|
The chart I posted shows almost 4x more people are borrowing to bet that BTC will go up compared to people borrowing to bet that the price will go down.
I use this as a measure of sentiment and view it as bullish. But it can also go badly wrong. If the bears can fight against the tide and force the price downwards, they could start a cascade which would force the bulls out of their positions at a loss and trigger a massive price spike downwards.
Elwar brings up a good point, in that the exchange where this data is drawn from (BfX) is forcing corporate accounts to close. Corporate accounts tend to be short bitcoin. So this could just mean the underlying mix of players is changing with no change in sentiment. Hard to evaluate without further information.
That may be true, but compare that to a typical stock. The number of short investors is actually never *greater* than 25%. So by that measure, 25% betting that the price of BTC will go down is actually extremely bearish. But this is crypto. Analogies with the stock market are often misleading and always risky.
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1442
Merit: 2284
Degenerate bull hatter & Bitcoin monotheist
|
 |
February 13, 2018, 01:34:24 AM |
|
The chart I posted shows almost 4x more people are borrowing to bet that BTC will go up compared to people borrowing to bet that the price will go down.
I use this as a measure of sentiment and view it as bullish. But it can also go badly wrong. If the bears can fight against the tide and force the price downwards, they could start a cascade which would force the bulls out of their positions at a loss and trigger a massive price spike downwards.
Elwar brings up a good point, in that the exchange where this data is drawn from (BfX) is forcing corporate accounts to close. Corporate accounts tend to be short bitcoin. So this could just mean the underlying mix of players is changing with no change in sentiment. Hard to evaluate without further information.
That may be true, but compare that to a typical stock. The number of short investors is actually never *greater* than 25%. So by that measure, 25% betting that the price of BTC will go down is actually extremely bearish. But this is crypto. Analogies with the stock market are often misleading and always risky. The chart indicates a more “normal” ratio is about 1.5:1 for BTC. But it only goes back about 6 months
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
 |
February 13, 2018, 01:34:53 AM |
|
snip ... more people are borrowing to bet BTC ... snip ... people borrowing to bet BTC ....
... I think I may have found the fundamental problem in the risk analysis logic here? Borrowing to bet on a limited-issuance, near instantly redeemable, bearer instrument is extreme risk-taking by any measures. Discussing how fast the bamboo and rice paper building will burn when doused in gasoline is fun but kind of misses the point that there are children playing with matches in the crawl space.
|
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
|
 |
February 13, 2018, 01:41:34 AM |
|
It’s their exchange. They can do whatever they like.
That said I did a quick google and am seeing conflicting reports about corporate accounts on BFX. Maybe Elwar can clarify.
american accounts only as far as i can tell. This is what I read here.
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1442
Merit: 2284
Degenerate bull hatter & Bitcoin monotheist
|
 |
February 13, 2018, 01:46:18 AM |
|
snip ... more people are borrowing to bet BTC ... snip ... people borrowing to bet BTC ....
... I think I may have found the fundamental problem in the risk analysis logic here? Borrowing to bet on a limited-issuance, near instantly redeemable, bearer instrument is extreme risk-taking by any measures. Discussing how fast the bamboo and rice paper building will burn when doused in gasoline is fun but kind of misses the point that there are children playing with matches in the crawl space. None of this is your grandma’s pension fund. 2X is very different from 100X (instant suicide). And don’t think the big boys don’t play with exotic instruments. That’s why we had the GFC.
|
|
|
|
moneyForjam
Jr. Member
Offline
Activity: 165
Merit: 4
Always believe in magic
|
 |
February 13, 2018, 02:04:24 AM |
|
this is how I see it 
|
|
|
|
|